Kovack Advisors Inc. Sells 90,630 Shares of First Trust Preferred Securities and Income ETF (NYSEARCA:FPE)

Kovack Advisors Inc. decreased its stake in First Trust Preferred Securities and Income ETF (NYSEARCA:FPE) by 54.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 77,300 shares of the company’s stock after selling 90,630 shares during the period. Kovack Advisors Inc.’s holdings in First Trust Preferred Securities and Income ETF were worth $1,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its position in shares of First Trust Preferred Securities and Income ETF by 96.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,681 shares of the company’s stock worth $30,000 after purchasing an additional 826 shares in the last quarter. ORG Partners LLC lifted its holdings in First Trust Preferred Securities and Income ETF by 1,655.6% during the fourth quarter. ORG Partners LLC now owns 2,651 shares of the company’s stock worth $47,000 after acquiring an additional 2,500 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in First Trust Preferred Securities and Income ETF by 435.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,849 shares of the company’s stock worth $68,000 after acquiring an additional 3,130 shares in the last quarter. Ehrlich Financial Group acquired a new position in First Trust Preferred Securities and Income ETF in the fourth quarter valued at about $181,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of First Trust Preferred Securities and Income ETF by 5.8% in the third quarter. Farther Finance Advisors LLC now owns 10,174 shares of the company’s stock worth $184,000 after acquiring an additional 559 shares in the last quarter.

First Trust Preferred Securities and Income ETF Trading Down 0.1 %

NYSEARCA:FPE opened at $17.81 on Friday. The business’s 50-day simple moving average is $17.75 and its 200-day simple moving average is $17.88. First Trust Preferred Securities and Income ETF has a fifty-two week low of $16.95 and a fifty-two week high of $18.23.

First Trust Preferred Securities and Income ETF Profile

The First Trust Preferred Securities and Income ETF (FPE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by investing globally in preferred equities and income producing debt across the market cap spectrum.